Unusual volume can be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst.

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Qlik Technologies ( QLIK), through its wholly owned subsidiaries, sells software solutions that deliver data analysis and reporting solutions. This stock is trading up 6.4% at $25.28 in recent trading.

Today's Volume: 807,000

Average Volume: 1.1 million

Volume % Change: 52%

From a technical standpoint, QLIK is gapping up strong today on decent volume and is flirting with some near-term overhead resistance at $25.38.

Traders should now look for a sustained high-volume move and close above $25.38 to signal that this stock wants to continue its uptrend back towards its 50-day moving average of $27.13. Look for volume at the close that's near or above 1.1 million shares.